HomeMy WebLinkAbout11-03-2021 Minutes IACMINUTES - FINAL
City of Orange
Investment Advisory Committee
November 03, 2021
The Investment Advisory Committee of the City of Orange, California convened on November
3, 2021, at 3:00 p.m. in a Regular Meeting in the Finance Conference Room, 300 E.
Chapman Avenue, Orange, California.
1. OPENING/CALL TO ORDER
Committee Member Larry Sallinger called the meeting to order at 3:00 p.m.
1.1 ROLL CALL
Present: Sallinger, and.Mittmann
Absent: None
2. PUBLIC COMMENT
None
3. APPROVAL OF MINUTES
3.1. Approval of meeting minutes of the Investment Advisory Committee of the City of
Orange for the August 4, 2021, Regular Meeting.
A motion was made by Committee Member Sallinger, seconded by Committee
Member Mittmann, to approve the Minutes as presented. The motion carried by the
following vote:
Ayes: Sallinger, and Mittmann
Noes: None
Absent: None
4. Selection of Investment Advisory Committee Officers
It was the consensus of the committee to select Larry Sallinger as the Chair of the
Investment Advisory Committee.
5. RATE SUMMARY
5.1. Rate Summary September 2020 -September 2021
ACTION: Received and filed.
6. INVESTMENT PORTFOLIO UPDATE
6.1. Investment Portfolio Update
ACTION: Received and filed.
Page 1 of 2
Investment Advisory Committee Minutes-Final November 3,2021
7. TREASURER'S INVESTMENT REPORTS
7.1. Treasurer's Reports for July,August, and September 2021
ACTION: Received and filed.
8. INVESTMENT POLICY UPDATES
None
9. ECONOMIC UPDATES
Item 9.2 was reordered to be heard before Item 9.1.)
9.2. Sales Tax Update
A decrease in sales tax numbers due to Amazon purchasing distribution warehouses.
This decrease is offset by the high volume of online sales as well as used car sales.
ACTION: Received and filed.
9.1. California Forecast Sales Tax Trends and Economic Drivers
ACTION: Received and filed.
10. CITY UPDATE
10.1. Agreement with Chandler Asset Management, Inc for Investment Services for the
City for fiscal years 2021-2022 through 2023-2024; Bid No. 21-22.17.
A recommendation to enter into agreement with Chandler Asset Management, Inc was
discussed and questions answered, in regards to their presentation, experience and
services.
ACTION: Committee consensus to approve an agreement with Chandler Asset
Management, Inc.
Thomas R. Hatch, Interim City Manager introduced himself to committee, with a brief
history of his experience and knowledge and his role within the City of Orange. Other
topics discussed included: the 2021 Orange International Street Fair event and
attendance as well as its impact on the Orange Plaza Paseo businesses.
11. ADJOURNMENT
The meeting adjourned at 4:44 p.m.
The next regular meeting will be held on Wednesday, February 2, 2022 at 3:00 p.m. in
th Finance Conference Room, 300 E. Chapm n Ava 4Drange, CA 92866.
e\Nces_vy
LA RYA SAL'61NGER, CHAIR RICHARD ROHM, CITY TREASURER
INVESTMENT ADVISORY COMM. INVESTMENT OVERSIGHT COMM.
Page 2 of 2